Danger of arrears - help

getmore4less

jenni646 wrote: »

Yes i have. he is very sympathetic and wants to help get the house sold so he can move out and find another place (as he hates living in our marital home now) but he just cant agree to renting out the other rooms - and also, that would mean we would have to have additional insurances and a contract so we couldnt continue to try and sell the house. I think he wants to avoid the mess of that, which i understand.

Has anyone used one of those house buying services with success?

he could have moved out if he hates living there suggest a swap and gauge the response.

Lodgers don't impede a sale you can kick them out quick enough with a sale situation you are looking at 4 weeks + to get to completion if lucky

getmore4less

Is he there for the viewings?

were you both there before you moved out.

jenni646

yes he's there for viewings and we both lived there before i moved out. We cant swap as he needs to be there for work and then it would just put him in the same situation as im currently in, having to pay rent and a mortgage.

phillw

jenni646 wrote: »

yes he's there for viewings and we both lived there before i moved out. We cant swap as he needs to be there for work and then it would just put him in the same situation as im currently in, having to pay rent and a mortgage.

Could you cover the mortgage if you weren't paying rent? Whether by taking in a lodger or not?
Although if you're going to get a lodger then you're looking at staying in the marital home, is that something you'd be prepared to do?

jenni646 wrote: »

I have also looked at letting it out but the lender would add an extra 1% to the mortgage interest each month to allow us to do it and i dont think we could get enough rent to cover the mortgage anyway.

If you're on a repayment mortgage then not covering the full payment every month isn't a huge problem. Although if you don't have any savings to pay for repairs then it might be. If you have to throw in £50 a month towards the mortgage and you're saving £300 towards repairs then it avoids any cliff edge scenarios.

If you're intent on selling then could you drop the price and borrow the money from family to cover any shortfall?

jenni646

Yes if i wasnt paying rent it would be fine, but as i live elsewhere now and dont have any options for people i could stay with, there isnt any way I cant pay the additional rent.

Unfortunately my ex-husband won't progress with a lodger in the house. i'll readdress this with him but im doubtful.

getmore4less

jenni646 wrote: »

yes he's there for viewings and we both lived there before i moved out. We cant swap as he needs to be there for work and then it would just put him in the same situation as im currently in, having to pay rent and a mortgage.

But you can get a lodger to ease the finances where he won't.

Easy to put of a viewer, with tiny comment

I am not convinced he is trying to sell

If he is working from home even less so as once sold he only very little from this place for a new one.

jenni646

sorry i misunderstood. i cant take in a lodger as im in a one bedroom flat. He lives in the property but is a doctor so doesnt work from home.

As he is the one there, it would be him having to take responsibility as 'landlord' to any lodgers and for any repairs etc which is more i think the reason he doesnt want to. I live quite far from the house now so wouldnt be able to get back there to help either.

Its a really difficult situation i know

BoGoF

Without sounding too harsh neither of you wants to take the bull by the horns here. Saying he doesn't want a lodger is, in the circumstances, ridiculous.

Come June you can no longer contribute to the mortgage and from then on arrears are going to accrue and on the road to reposession.

You want to avoid this if at all possible. If this means him taking a lodger then thats what it takes. Alternative is he moves out and you take the lodger in.

Or the nuclear option.....you live in the same house until it is sold! I do know of people that have done this. Sometimes financial constraints trump all else.

BoGoF

And taking a lodger in is not the same as letting your home when it comes to rules/regulations. And it's tax free up to £7500

getmore4less

jenni646 wrote: »

sorry i misunderstood. i cant take in a lodger as im in a one bedroom flat. He lives in the property but is a doctor so doesnt work from home.

As he is the one there, it would be him having to take responsibility as 'landlord' to any lodgers and for any repairs etc which is more i think the reason he doesnt want to. I live quite far from the house now so wouldnt be able to get back there to help either.

Its a really difficult situation i know

So he does not need to live there for work.

You move in and get a lodger he gets out and rents.

Even if you don't want to put it on the table to test his resolve.

Deadline is end of your tenancy you move back in if he does not like it he can move out.


Have you checked for feed back from the agents why the viewings are not leading to offers?

He is not going anywhere soon with this cushy number.